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This article applies to:

  • Product: ONESOURCE Statutory Reporting
  • Subject: Templates

Version 17 - April 2025 (CUD release)

  • Financial period type: 12-Months (Annual)
  • Target industry type: Manufacturing, Services, and Generic (excluding Financial Services)

Content update

This update verifies that the Japan Corporate Template includes Illustrative Model Content covering legislative requirements for the annual year-end reporting.

Legislative updates

  1. "2025 年度 3 月期決算における令和 7 年度税制改正において創設される予定の防衛特別法人税の税効果会計の取扱いについて"
Since the special defense corporate tax introduced in the Reiwa 7 fiscal year's tax reform is imposed as an additional tax on corporate tax, it is considered a tax related to corporate profits. As a result, the method for calculating the statutory effective tax rate will be adjusted.
There are no changes to the template as of now.
Rationale for Decision: This supplemental document from the ASBJ” 2025 年度 3 月期決算における令和 7 年度税制改 正において創設される予定の防衛特別法人税の税効果会計の取扱いについて” affects the scheduling on which the recoverability of deferred tax assets is determined but isn't covered in the template.
Is early adoption available for these accounting standards?
  1. "改正移管指針第 9 号 金融商品会計に関する実務指針"
If a company's investment in a partnership includes shares without a market price, these shares are typically evaluated at acquisition cost according to Accounting Standards No. 10,
Accounting Standards for Financial Instruments
. However, if certain requirements are met, the shares can be evaluated at market value, and the difference in valuation is recorded in the net assets section of the investor company.
  1. The operator of the partnership must be someone whose business involves managing the invested property.
  2. In the settlement of accounts for the association, shares that are constituent assets without a market price are evaluated at market value.
When this accounting treatment is applied, additional items are noted alongside the existing notes related to investments in partnerships, where the amount equivalent to equity is recorded in the net section of the balance sheet.
Additionally, if the information is included in the consolidated financial statements, it doesn't need to be repeated in the individual financial statements.
  1. The fact that the accounting treatment described in 1 previously has been applied.
  2. Policy on the selection of associations, etc., to which the accounting treatment applies.
  3. The total amount recorded on the balance sheet for investments in partnerships to which this accounting treatment is applied (as a subset of the total amount recorded on the balance sheet for contributions to partnerships, where the market value isn't disclosed in the existing notes).
It will be applied from the beginning of the consolidated fiscal year and fiscal year beginning on or after April 1, 2026. In addition, early application can be applied from the beginning of consolidated fiscal years and fiscal years beginning on or after April 1, 2025.
There are no changes to the template as of now.
Basis for judgment: Subject to ASBJ "改正移管指針第 9 号 金融商品会計に関する実務指針"
Shares that don't have a market value as constituent assets such as partnerships in which a company invests doesn't need to be covered by the template because they are significantly less likely to be held.
2. "企業会計基準第 34 号 リースに関する会計基準"
“企業会計基準第 34 号 リースに関する会計基準”changes the lease accounting standards.
The main focus of this change is that operating leases, which were previously off-balance-sheet, will now be on-balanced.
However, those that fall under short-term leases and small-amount leases can be off-balance sheet as they are now. In principle, it will be applied from April 2027, but it can be applied as early as the fiscal year ending March 2026.
However, the possibility of early application is considered to be extremely low.
Since the ledger account is changed from
leased asset
 to
right-of-use asset
, a template change is required. In addition, the notes have been expanded.
  1. Changes in Accounting Policy
  2. Lease-specific transaction information
  3. Information to understand the amount of registration and the lease for the next period and thereafter
You need to update both the note and the template.

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